A decision from the divorce courts in a recent case has looked again at the way that inherited assets are divided when a couple splits up.
And the result is a reminder that the courts may decide that sharing out those assets exactly 50/50 is not always the fairest approach.
While the case involved a husband and wife who had substantial wealth, the principles apply whenever there is a financial split following on from marriage breakdown.
In the case, the Court found that the husband’s wealth, which he had inherited, should not, in the main, form part of the financial split because they were non-matrimonial assets and that the needs of the wife could be met from other assets that were part of the marital pot.
Helen Stuart, a Family Solicitor at Gotelee, says there are often times when clients will seek to exclude inherited wealth from a matrimonial settlement – and that this case shows that they may well succeed.
However, she issued a word of caution: “If the spouse without the marital wealth would be left homeless or without income then inherited wealth may have to be called upon to ensure both parties’ needs are met.”
Inherited wealth in divorce cases can be a complicated issue, so it’s important to seek specialist advice if you think this is likely to be a concern in your case.
How can our divorce lawyers help you?
Gotelee’s team of specialist lawyers regularly advise clients in this area. To find out how they can help you, call us on 01473 211121 or email [email protected]